U.S. trade, jobs data encouraging; services sector disappoints
NEW YORK (Reuters) – The U.S. trade deficit narrowed in April on a drop in imports, which surged in March following the end of a West Coast ports labor dispute, while companies picked up their hiring in May after a pullback the previous month.
U.S. economy growing at ‘modest’ to ‘moderate’ pace: Fed
WASHINGTON (Reuters) – U.S. economic activity expanded from early April to late May and growth was expected to continue at a “modest” to “moderate” pace against the backdrop of declining oil and gas investment, the Federal Reserve said on Wednesday.
Wall St ends up; financials gain with bond yields
(Reuters) – U.S. stocks rose on Wednesday, helped by optimism that Greece was close to an agreement to avoid default and as further gains in bond yields lifted financials.
Hedge fund boss Paulson gives Harvard record $400 million
CAMBRIDGE, Mass. (Reuters) – Harvard University, which has educated many of the world’s wealthiest investors, is now getting its biggest single gift from one them – a $400 million donation from Wall Street hedge fund investor John Paulson.
Three Google directors survive challenge over pay
(Reuters) – Three Google Inc compensation committee members were re-elected on Wednesday, the technology company said at its annual meeting, despite a challenge from a high-profile proxy adviser that raised concerns over executive pay.
VW signs deal to boost production of electric cars in China
FRANKFURT (Reuters) – Volkswagen on Wednesday said it signed a cooperation agreement with SAIC Motor Corporation to boost production, research and development of electric cars in China.
Brokers were “tool in my armoury” for ex-trader Hayes, court told
LONDON (Reuters) – Tom Hayes, the first trader to face a jury trial over alleged Libor rate-rigging offences, told British investigators brokers in other firms became “a tool in my armoury” when they offered to help move rates for him, a London court h…
Wal-Mart relaxing dress code in bid to address worker concerns
(Reuters) – Wal-Mart Stores Inc said it was relaxing its dress code and raising the temperature at its stores as part of an effort to improve working conditions at its 4,555 U.S. locations.
Exclusive: BASF mulls potential bid for Syngenta
(Reuters) – German chemicals group BASF SE is considering a potential offer for Syngenta AG , its Swiss rival which has received a $45 billion takeover offer from Monsanto Co , people familiar with the matter said on Wednesday.
Wendy’s to buy back $1.4 billion of shares; Trian to cut stake
(Reuters) – Hamburger chain Wendy’s Co will buy back $1.4 billion of shares, including $211 million from Nelson Peltz’s Trian Group, its largest shareholder, in its biggest repurchase program.
